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Beats ends HTC partnership, buys back $265 million of shares

Popular headphone maker Beats is buying back HTC's 25 percent stake in the company. HTC originally bought a $300 million, 50.1 percent stake in Beats back in 2011, and the headphone maker then paid $150 million to buy back half of that investment last year. Today's announcement means the close partnership between the two companies comes to an end, with Beats buying back the final $265 million in shares. In a statement, HTC says Beats will still be an important partner, but it refused to say exactly how important or the reasons behind the split and any financial impact.

HTC has been struggling to gain smartphone market share recently, with its profits dwindling quarter upon quarter.